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USDJPY: the high level moves down
2023-06-21
748
Fundamental analysis:
USD/JPY remains volatile around 141.419, and Japanese authorities are unlikely to actually intervene now, but when USD/JPY rises rapidly above 145 and 150, the risk of intervention may become greater. The gap between the Bank of Japan's ultra-loose monetary policy and the central banks of Europe and the United States is still very large, and the yen is once again caught in this dilemma.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high short-term shocks move down, the short-term decline may continue, the market is shrouded in bearish sentiment, and there is a trend of continued downward movement in the short-term, the MACD indicator is in the bullish area and fluctuates downward, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 141.792 142.020
Support levels: 141.227 141.028
Trading strategy: bearish below 141.544, target 141.227 141.028
Alternative strategy: Bullish above 141.544, target 141.792 142.020
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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